Capabilities
Senior Living, Long-Term Care

Bankruptcy and Restructuring

Our restructuring practice has deep experience in the senior living and health care industries. We represent providers of financing to hospitals and other health care facilities, including skilled nursing and senior living facilities, in bankruptcy and restructuring matters, and in related transactions and litigation, throughout the United States. We also represent hospitals and hospital systems, operators, boards and special committees, trade creditors and contract counterparties, investors interested in acquiring distressed health care facilities, and other parties that are affected by healthcare industry insolvency. In addition, we represent creditors and other parties in pharmaceutical, biotechnology, and medical device bankruptcies. Where appropriate, we are able to call upon our colleagues in the healthcare and pharmaceutical practice groups for assistance, including deep regulatory experience.

Representative bankruptcy and restructuring matters include

  • The largest secured creditor in the Doctors Community Healthcare Corporation Chapter 11 proceedings, involving hospitals in Washington, DC, Chicago and California.
  • A secured lender (also DIP lender) in a Delaware bankruptcy case involving hospitals and specialty care facilities in Massachusetts and Connecticut.
  • A secured lender in workout negotiations involving an Arizona retirement community; resolved the matter without the need for a bankruptcy filing.
  • A multi-facility lessor in Alterra Healthcare Corp. Chapter 11 case in Delaware.
  • A successful purchaser of assisted living and skilled nursing facilities from bankruptcy estate in a Massachusetts bankruptcy case.
  • The lessor of several senior living facilities in the LifeCare Holdings Delaware Chapter 11 case.
  • A lender in structuring a transaction involving acquisition and financing of CCRC facilities.
  • A real estate investment trust in bankruptcy of Ft. Lauderdale nursing home operator - relief from stay obtained in first month of case, and operations successfully transitioned to new operator.
  • The lessor of several LTACs in an Indiana bankruptcy case; litigated successfully and ultimately orchestrated a sale of the debtor’s assets and assignment of our client’s leases to a new operator that our client identified and selected.
  • A hospital in a North Carolina bankruptcy case where it purchased assets out of a Chapter 11 proceeding; defeated creditor objections to the sale.
  • Downey Regional Medical Center in its successful Chapter 11 reorganization and related bond offering.
  • A mortgage REIT in financing the acquisition of a portfolio of skilled nursing facilities.

Overview

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